TUSD Gains The Upper Hand On Binance, Becoming The Largest BTC Trading Pair
According to data source Kaiko, TrueUSD (TUSD), a stablecoin that was poorly known before this year, is now the biggest Bitcoin trading pair, thanks to the Binance crypto market, Bloomberg reported. According to data source Kaiko, TrueUSD (TUSD), a stablecoin that was poorly known before this year, is now the biggest Bitcoin trading pair, thanks to the Binance crypto market, Bloomberg reported.
The stablecoin “is the benefactor of increased volumes now, even if the reasons why Binance granted TUSD this gift are unclear,” he wrote. Tether pairings, according to Kaiko, account for 80% of overall trading volumes across centralized crypto exchanges. TUSD is at 9% and is expected to reach second place in the next months, according to the report. Yet, according to Kaiko, market depth statistics on Binance reveal that BTC-USDT is still king in terms of liquidity, with market makers clearly preferring exposure to Tether over TrueUSD. TrueUSD’s circulation increased when New York authorities forced the issuer of a Binance-branded stablecoin, BUSD, to stop minting new tokens in February.
Source
https://t.me/Blockchain_Explained
